Five Things I Learned From A Conversation With Jaeger-LeCoultre CEO Daniel Riedo

Just last week, I had the chance to sit down with Daniel Riedo, the current CEO of Jaeger-LeCoultre. Just one year into his tenure as the manufacture's leader, he has a tremendous sense for the storied history of this "watchmaker's watchmaker," with an eye for the future. Here are five of the most interesting things I learned from my conversation with him:

1. JLC is divided into three, almost equal categories: Reverso, Master, and High Complications

So many people in the "real world" – that is, of course NOT the world in which we live here at HODINKEE, but rather the one where people do not spend hours each day obsessing over timepieces – think of Jaeger-LeCoultre as The Reverso, and that's it. But, in actuality, by sales and by resources, JLC is divided almost equally between the Reverso, the Master lines, and then high-end complications.

2. Since inception, JLC has developed an insane 1,349 unique calibers

One of the attributes that makes Jaeger such a strong player is its ability to make new movements. Remember that JLC was providing movements for just about everyone up until less than 20 years ago, and that includes Patek, Vacheron, and AP. 1,349 calibers since 1833 is just insanity – that's over seven new calibers per year if averaged out. Nobody in the industry, and I mean NOBODY, comes close to that type of production.

3. There are 125 people working on product development at any given time (roughly 10% of the JLC workforce)

Many view much of the Swiss watch industry as merely a finely tuned marketing machine. This is not the case at Jaeger-LeCoultre, as an astonishing 125 people (or roughly 10% of the workforce) is working on new product development at any given time – that's technical development. Just 12 are working on the (aesthetic) design team.

4. The Reverso will experience a total change in 2016

Riedo wouldn't go into details, but he alluded to the fact that JLC's iconic Reverso would be going through a radical change in 2016. Check back with us on that one in about 18 months.

5. JLC currently has 70 boutiques around the world, but his goal is to have 100.

Riedo is a firm believer in the mono-brand, factory owned boutique strategy that we've begun to see in recent years. As it stands right now, JLC has 70 boutiques around the world, but his goal is to push that number closer to 100.

BONUS: JLC is opening a boutique in NYC, THIS YEAR!

Yes, New Yorkers, get ready to have your very own JLC boutique here in town. The shop is slated to open later this year and it will reside at 701 Madison Avenue.

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Friday March 3, 2012

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